BRITAIN’S railways could still face a “smash and grab” assets sale, unions warned yesterday after a landmark report ruled out full privatisation of rail infrastructure.

High-speed rail chief Nicola Shaw’s report into the future governance of Network Rail said the possibility of a sell-off had been “dismissed,” reporting that most of those who responded to its consultation opposed the idea.

But her report said the introduction of “private-sector capital in parts of Network Rail” should “focus on either concessions or time-limited licences.”